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Endesa Shares Advance 1.3%
In Wake of Public Offering

By

Carlta Vitzthum Staff Reporter of The Wall Street Journal

Updated Oct. 22, 1997 12:01 a.m. ET

MADRID -- Shares of Empresa Nacional de Electricidad SA advanced 1.3% in record volume on Tuesday, the first day of trading following the public offer of a 25% stake in Spain's largest electricity company.

The offer, which reduced the government's stake in Endesa to 42%, raised 671 billion pesetas ($4.49 billion), more than half of the 1.1 trillion pesetas the government had hoped to raise in the best of circumstances.